Kelley has a Purchase rating on CZR and a target price of $125, which is substantially greater than its present worth. DKNG launched its everyday fantasy sports solution in The Grand Canyon State a couple of weeks before kicking off its digital sportsbook. DraftKings (DKNG, $60.42) is arguably 1 of the most properly-recognized sports betting stocks out there. DKNG has been a public company for 17 months, but it has already created a mark on the sector. DraftKings completed its reverse merger with a specific purpose acquisition organization (SPAC) on April 24, 2020. “We are delighted to make that mixture official by pairing America’s #1 sportsbook with America’s #1 sports league.” He adds that the increase in popularity amongst fantasy sports has boosted engagement from younger crowds. This, in turn, is “leading to a path of growth for several businesses in the extended-term as sports-betting makes its way all through the U.S. and the world.”

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